Visionary Wealth Advisors Purchases New Holdings in ServiceNow, Inc. $NOW

Visionary Wealth Advisors acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,347 shares of the information technology services provider’s stock, valued at approximately $829,000.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in ServiceNow in the second quarter worth about $9,536,615,000. State Street Corp lifted its position in ServiceNow by 406.6% during the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after purchasing an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD lifted its position in ServiceNow by 371.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after purchasing an additional 25,517,218 shares during the period. Geode Capital Management LLC boosted its stake in shares of ServiceNow by 404.8% in the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after purchasing an additional 18,854,775 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of ServiceNow by 335.6% in the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock valued at $3,482,543,000 after purchasing an additional 17,514,679 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Citizens Jmp reissued a “market outperform” rating and set a $157.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. Benchmark reaffirmed a “buy” rating on shares of ServiceNow in a research note on Friday, July 17th. KeyCorp reaffirmed an “underweight” rating on shares of ServiceNow in a report on Tuesday, July 21st. Capital One Financial upped their target price on shares of ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Finally, Cantor Fitzgerald increased their price target on ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.24.

ServiceNow Trading Down 0.3%

Shares of NYSE:NOW opened at $128.09 on Tuesday. The company’s fifty day simple moving average is $109.36 and its 200 day simple moving average is $105.79. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73. The firm has a market cap of $132.45 billion, a price-to-earnings ratio of 80.06, a PEG ratio of 2.26 and a beta of 0.94. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.ServiceNow’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. As a group, research analysts forecast that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $125.60, for a total transaction of $188,400.00. Following the completion of the transaction, the director directly owned 46,690 shares in the company, valued at $5,864,264. This represents a 3.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by company insiders.

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.